Kinross Gold (TSE:K) Reaches New 12-Month High Following Analyst Upgrade

Kinross Gold Co. (TSE:K) (NYSE:KGC) shares reached a new 52-week high during trading on Friday after Stifel Nicolaus raised their price target on the stock from C$9.00 to C$11.50. Stifel Nicolaus currently has a buy rating on the stock. Kinross Gold traded as high as C$9.37 and last traded at C$9.33, with a volume of 3113277 shares traded. The stock had previously closed at C$8.97.

Separately, National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and an average target price of C$9.88.

Insiders Place Their Bets

In other news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total value of C$144,508.16. In other news, Senior Officer Nathan M. Longenecker sold 29,312 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$4.93, for a total value of C$144,508.16. Also, Senior Officer Claude J.S. Schimper sold 8,400 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$7.64, for a total value of C$64,176.00. Over the last 90 days, insiders have sold 143,621 shares of company stock worth $893,873. 0.26% of the stock is owned by corporate insiders.

Kinross Gold Stock Performance

The firm has a fifty day moving average of C$7.65 and a 200 day moving average of C$7.53. The company has a debt-to-equity ratio of 36.54, a current ratio of 2.63 and a quick ratio of 1.11. The stock has a market cap of C$11.45 billion, a price-to-earnings ratio of 20.24, a PEG ratio of -0.60 and a beta of 1.21.

Kinross Gold (TSE:K) (NYSE:KGC) last posted its earnings results on Wednesday, February 14th. The company reported C$0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.12 by C$0.03. The company had revenue of C$1.52 billion during the quarter, compared to analysts’ expectations of C$1.24 billion. Kinross Gold had a return on equity of 6.88% and a net margin of 9.82%. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.4605193 EPS for the current year.

Kinross Gold Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 1.72%. Kinross Gold’s dividend payout ratio is currently 34.78%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.